Sunday, August 04, 2013

SpiceJet accepts CEO Neil Mills' resignation

New Delhi: Budget carrier SpiceJet has accepted the resignation of its chief Executive Niel Raymond Mills, 18 months before his service contract was to expire.
While no name has been announced for his successor, the airline today informed the Bombay Stock Exchange that Mills' resignation, submitted last month, was accepted by the Board of Directors at a meeting yesterday "in accordance with the terms of his employment with the company".
Mills, who is the third CEO for the Chennai-based private carrier in the past five years, had year-and-a-half to complete his contract.
The resignation came amid reports that the airline was in advanced stages of talks with a foreign airline and other strategic investors in a bid to raise funds to cope with heightened competition.
03/08/13 PTI/Economic Times